TSYS Signs PRIME 4 Agreement with Banco del Bajío - "Ranked as one of the top banks in Mexico, Banco del Bajío will leverage PRIME issuing support to manage its credit and private label card portfolios along with its loyalty and installment programs on the single-platform PRIME solution. TSYS will also provide the bank with sophisticated licensed solutions for integrated customer alerts as well as authorization and switching as part of the PRIME licensing agreement."

Money20/20 as become the go-to event in payments... we'll be there in force. The agenda is now available and the event is 90% sold out - if you've been waiting, it's time to register! Use this promo code to register and receive a 20% discount: "GLENBR20"

An Efficient Mobile P2P Payment: The Paper Check - Portals and Rails - "She informed me that she uses her mobile banking app to process her checks through mobile remote deposit capture (RDC) and that she prefers having access to the funds through her debit card over cash."

The Game-Changing Nature of Beacons - UX Magazine - "The most revolutionary aspect of beacons is that they can create real-word operating systems: a mesh of devices, smart objects, and beacons with the ability to talk to each other with contextual intelligence."

Bitcoin Loss Highlights Elusive Paths of Regulation - New York Times (Peter J. Henning) - "Needless to say, advocates of Bitcoin who cherish its anonymity and freedom from governmental oversight will not take kindly to increased regulation, along with the costs that come with it."

Fed Says It Followed Interchange Law - Credit Union Times - "The regulator argued that it had followed the law in requiring, for example, that debit issuers have two payment networks on each card and not just one and that the retailers who had filed the suit had misstated the law's requirement."

RewardsNOW Upgrades ShoppingFLING, its Merchant Funded Rewards Program - "Steven VanFleet, President and CEO of RewardsNOW, Inc., says that “Today’s shoppers are looking for more customized, relevant, and tailored offers delivered how and when they want. This upgrade to the ShoppingFLING program allows our loyalty program participants to essentially create their own online mall by creating Collections of their favorite stores."

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

How a Debt-Ceiling Crisis Could Become a Financial Crisis - New York Times Economix Blog - "Economists widely agree that such an unprecedented event would have profound effects for the markets, likely precipitating a stock-market sell-off and setting off a round of global financial turbulence."

Reconsidering Credit Cards - TMG Blog - "Although a number of community financial institutions (FIs) moved away from offering credit cards during the financial crisis, many are taking a closer look at getting back into the business of credit cards."

Join us for our new series of Glenbrook Payments Boot Camps coming this October - 8th/9th in the San Francisco Bay Area and 23rd/24th in New York City!

Glenbrook's Allen Weinberg and Erin McCune will be at Money2020 in Las Vegas October 6-10 - please reach out to them directly to catch up in person or set up a briefing at the conference. Erin will be moderating an Invoicing, Billing & Collections panel with Bill.com CEO Rene Lacerte, Billtrust CEO Flint Lane and Billhighway Chairman Vince Thomas.

Glenbrook's Elizabeth McQuerry will be speaking at this year's NACHA Global Payments Forum on October 17-18 in New York City. She'll be speaking on the topic "Mobile Payments, Interoperability & Faster Funds Transfer".

Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it: gotnews@paymentsnews.com!

Fiserv has announced a new mobile loading capability for prepaid cards, giving cardholders the ability to safely load immediate, guaranteed funds from a personal or business check using a smartphone’s camera.

“By combining industry-leading check capture technology with easy check guarantee and authentication processes, Fiserv helps prepaid card processors and program managers increase card load volume, and has the potential to retain and grow their customer base,” said Gary Brand, director, Source Capture Solutions, Fiserv. “The ability to easily load funds from a check to a card adds a great deal of convenience for the consumer, and can be a valuable addition to traditional banking. For prepaid processors that offer mobile loading, this can mean increased balances, transaction counts, volumes and customer retention rates.”

The guarantee is enabled by a new agreement between Fiserv and VALID Systems.

Visa and Chexar Networks announced today the launch of a network platform that will enable Visa prepaid users to deposit paper checks to their reloadable Visa prepaid card using their mobile device, by simply snapping a photo of a paper check.

“Consumers are choosing reloadable prepaid cards at an increasing rate, and for many of the same reasons that consumers embrace other electronic payment options — security, convenience and reliability,” said Hyung Choi, head of U.S. Prepaid, Visa Inc. “Mobile technology and other payment innovations are enabling us to enhance Visa’s prepaid experience and bring all the conveniences of traditional banking options to consumers who choose to use prepaid.”

PreCash has announced FlipMoney, a mobile wallet app for underbanked consumers.

“Historically, people with the least amount of money and free time pay more and have fewer convenient options to do simple things like pay bills or cash checks,” said Steve Taylor, PreCash CEO. “Until now, the current cadre of mobile payments and financial services apps largely ignore the needs of people without bank accounts and credit cards. Flip changes all of that by combining instant remote check deposit and free expedited bill payments in a single mobile wallet that works with a prepaid card.”

PreCash also announced that the mobile solution can be customized and branded for mobile carriers, prepaid program managers, money service businesses and other merchants.

Mitek Systems, a key technology provider for mobile check deposit, has announced the availability of the first Mobile Imaging Cloud, a new service for mobile application developers, systems integrators and businesses that want to a "fast, cost-effective way to create smartphone and tablet apps that use the camera as an input method for a wide variety of tasks."

Mitek’s extractive-imaging technology works with both paper and non-paper documents, including drivers’ licenses, gift cards, receipts, invoices, tax documents and many others.

PayPal is blogging that $100,000 worth of checks have been processed in the first 36 hours by the "Add Money from Checks" capability inside the new PayPal mobile app. In related news, BankServe has announced that its mobile capture technology behind the service.

BankServ has announced a Remote Deposit Capture (RDC) product that combines the ability to deposit checks from the home computer with the ability to deposit checks from an iPhone and other mobile devices. With this solution, banks can now provide their customers the flexibility of depositing checks using a desktop scanner, flatbed scanner, iPhone or other leading mobile device.

BankServ and NetDeposit recently announced the signing of a definitive agreement wherein BankServ will acquire substantially all of the assets of NetDeposit, a wholly owned subsidiary of Zions Bancorporation. With this acquisition, the combined operation will be the largest privately held, bank-independent processor of remote deposit capture transactions in the U.S.

Chase quietly introduced a new version of its mobile banking app last week that supports remote deposit capture from the iPhone. Jim Bruene over at NetBanker has a write up on how it works, including some nice screen shots. The app upgrade also included mobile access to Chase's P2P payment service.

USAA has announced that its bank customers using mobile devices on the Android platform now can deposit checks using their phones. USAA’s Mobile App for Android, introduced over the weekend to the Android Market, offers access to banking, insurance and stock-trading services as well as USAA’s popular Deposit@Mobile feature. That feature allows eligible members to instantly deposit checks simply by submitting an image of the front and back of an endorsed check via the phone.
READ MORE »

Torrance Community Credit Union (TCCU) of Torrance, California has announced that it will enable its members to "deposit checks directly to their accounts through their iPhone camera devices, effective immediately. Checks will be processed electronically, end-to-end, through the credit union’s partnerships with Eastern Corporate Federal Credit Union (EasCorp) of Burlington, Massachusetts and Innovative Technology, Inc. (INTECH) of Omaha, Nebraska. Torrance Community CU becomes one of the first financial institutions in the United States to offer this service."
READ MORE »

Jack Henry has announced that its Remote Deposit Capture (RDC) solution continues to set new transaction volume records. The company's RDC solution now supports more than 22,000 merchants and 85,000 merchant locations. "After a record-setting July, during which more than 11,350,000 RDC transactions were processed, volumes continued to increase and another monthly record was set in August with more than 11,685,000 RDC transactions processed. The collective transactions processed during this two-month period represent in excess of $18 billion."
READ MORE »